Biden pick Ajay Banga cleared to take top job at World Bank

The Associated Press

WASHINGTON (AP) — The Biden administration’s choice to run the World Bank — former Mastercard CEO Ajay Banga — appears to have a lock on the job. Banga was the only candidate nominated in a search that began more than a month ago. The current president of the 189-nation poverty-fighting organization, David Malpass, announced last month that he would step down in June, nearly a year before his five-year term was due to expire in April 2024. The World Bank is under pressure to do more to help poor countries to combat and prepare for climate change. Banga, the first Indian-born nominee to run the World Bank, has more than 30 years of business experience.